1. Supply of goods and services or both under GST Law is a Taxable Event.

2. We can say that,

• GST is levied on a supply of Goods or services.
• GST should be made for – consideration.
• GST should be made in the course or furtherance of business.
• GST should be made by the Taxable person.
• GST should be made within a taxable territory.

3. Supply also includes import of services (subject to certain exceptions) considered as a supply if done with consideration irrespective of the fact that whether or not it is made in course of or in the furtherance of business.

4. There are 3 schedules attached to supply:

• SCHEDULE I: Activities to be treated as supply even if made without consideration.
• SCHEDULE II: Activities to be treated as supply of goods or supply of services.
• SCHEDULE III: Activities or transactions which shall be treated neither as a supply of goods nor a supply of services.